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Portguyofva

08/05/12 10:31 PM

#12770 RE: crowbar24382 #12769

IMO BAC is linked to the markets which may have some more room to run. Look at the DOW which has been trading in an up channel since beginning of June. I believe 13,000 will be a critical support level (psychologically and technically) near-term. The VIX should test the 14 level before turning and the S&P 500 is trading like the DOW with strong support building at 1360 and 1375.

In short, I think the markets go higher which will hopefully let BAC get through strong resistance at 7.43. Then it can go after 7.76 resistance, which is considerably weaker. GLTY!